Fiat to stick to 500-mln-euro cashing out limit

Company statement spurs investors as shares add 1.36%

(ANSA) - Turin, August 12 - Fiat will merge with Chrysler "as approved" by a majority of shareholders at the end of July, the Italian carmaker said Tuesday. That means the company led by CEO Sergio Marchionne does not intend to pay out more than 500 million euros to shareholders wishing to cash out of the deal that created Fiat Chrysler Automotives (FCA).

The 8% of shareholders who were opposed to the deal have a right to cash out at 7.727 euros a share, which is above the current market price. The company's statement spurred investors as shares added 1.36% to trade at around 7 euros a share late in the session.